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Babcock & Brown
Takeover of Powerco
On 9 August 2004 Australian listed infrastructure fund, Prime Infrastructure (now Babcock and Brown Infrastructure), announced that it had agreed to purchase a 53.6% stake in one of New Zealand's largest energy companies, Powerco Limited. Since that announcement Babcock and Brown Infrastructure has made a successful takeover offer for the remaining shares and capital bonds issued by Powerco, funded by a combination of cash and hybrid securities. Mayne Wetherell advised Babcock and Brown. |
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